An Act To Amend The Act Of July 24, 1921 A Involuntary Dispossession Of The Bearer Securities, The Law Of 14 December 2005 On The Abolition Of Bearer Securities And Chapter V Of The Law Of 24 July 2008 Amending Of Provisions Miscellaneous

Original Language Title: Loi modifiant la loi du 24 juillet 1921 relative a la depossession involontaire des titres au porteur, la loi du 14 decembre 2005 relative a la suppression des titres au porteur et le chapitre V de la loi du 24 juillet 2008 portant des dispositions divers

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now

Read the untranslated law here: http://www.ejustice.just.fgov.be/cgi/article_body.pl?numac=2013003462&caller=list&article_lang=F&row_id=1000&numero=1027&pub_date=2013-12-31&dt=LOI&language=fr&fr=f&choix1=ET&choix2=ET&fromtab=+moftxt&trier=publication&sql=dt+=+'LOI'&tri=pd+AS+RANK+

Posted the: 2013-12-31 Numac: 2013003462 SERVICE PUBLIC FÉDÉRAL FINANCES 21 December 2013. -Act to amend the Act of 24 July 1921 on a dispossession involuntary bearer securities, the law of 14 December 2005 on the abolition of bearer securities and chapter V of the law of 24 July 2008 laying of miscellaneous provisions (i), in which regard dormant chests (1) PHILIPPE, King of the Belgians, to all present and future, hi.
The Chambers have adopted and we endorse the following: Chapter 1. -Available general Article 1. This Act is a matter regulated by article 78 of the Constitution.
CHAPTER 2. — Amendment of Act on July 24, 1921 to the involuntary dispossession of securities in bearer form s. 2. article 2, paragraph 1, Act July 24, 1921 in the involuntary dispossession of securities in bearer form, replaced by the law of 22 July 1991, the following sentence is added: "more no opposition can be served on the Office effective 1 January 2014".
CHAPTER 3. -Amendments to the law of December 14, 2005 on the abolition of the Art. bearer securities 3. article 2, paragraph 2, of the law of 14 December 2005 abolishing bearer securities is completed by the following: "-the bearer bonds that take the form of a collective title and which are issued to a body of liquidation for capital purposes, except for the purposes of article 4".
S. 4. in article 7 of the same Act, replaced by the Act of April 25, 2007, the following changes are made: 1 ° 1st paragraph is replaced by the following: "the securities that have not been converted in accordance with article 5, must be converted into registered or dematerialised securities, no later than 31 December 2013 within the scope of the statutory provisions and of the legal and regulatory framework for the issue. ';
2 ° in paragraph 3, paragraph 4, the words "in two press organs of national outreach," including one in french and one in Dutch are repealed.
S. 5 in article 9 of the Act, as amended by the Act of 25 April 2007 on the miscellaneous provisions (IV), the following changes are made: 1 ° in the paragraph 2, between the first and the second sentence is inserted the following sentence: "titles in opposition are inscribed in the nominative registry, on behalf of the issuer under a heading separate until the extinction of the opposition. This listing does not constitute an act of disposal as referred to in article 16 of the law of July 24, 1921 on the involuntary dispossession of the bearer securities. "."
2 ° article is supplemented by a paragraph worded as follows: "no input, receivership or blocking of a title account opened on behalf of the issuer or a nominal registration made on behalf of the issuer pursuant to this section, is allowed.".
S.
6. article 10 of the same Act is supplemented by the words: "and even after the filing of titles not sold to the Fund in accordance with article 11, § 4, of this Act.".
S.
7 A section 11 of the Act, the following amendments are made: 1 ° paragraphs 1 and 2 shall be replaced by the following: "§ 1."
From 1 January 2015, the securities admitted to trading on a regulated market and which the holder did not make known to the day of the sale, are sold by the issuer on a regulated market.
This sale is made subject to prior publication in the Moniteur belge and on the website of the market operator operates the business of the regulated market on which the securities will be sold a notice containing the text of this paragraph and inviting the holder to assert its rights in securities. The sale cannot take place only upon the expiration of a period of one month from the publication of the notice and is initiated within the three months following.
The issuer may charge on the proceeds of the sale expenses should expose due to the holding and management of securities in a securities account in his name by application of article 9 and due to the conversion of right of securities issued by him.
The issuer may purchase securities offered for sale. With regard to actions, beneficiary shares or certificates relating to it, it complies with the conditions laid down in article 620 of the companies Code, with the exception of the condition referred to in article 620, § 1, paragraph 1, 2 °, of the Code of corporations that may be waived for the purposes of this paragraph. If the conditions of article 620 of the companies Code are not fulfilled, the redemption may be made by the issuer exclusively to immediate destruction of the redeemed securities. In the latter case, the issuer complies with the conditions laid down in article 621 of the Code of corporations.
From money from the sale, net of the costs referred to in paragraph 3, are deposited at the Caisse des Dépôts et Consignations until a person could validly establish its status as holder request the refund. The Caisse des Dépôts et Consignations is responsible for recovery of these sums only so much that it has been received from the transmitter in pursuance of this paragraph. Accrued interest on these amounts back to the Caisse des Dépôts et Consignations filing with it.
The King may establish the terms of the sale, the filing and refunds provided for in this paragraph.
§
2. From 1 January 2015, securities which are not admitted to trading on a regulated market and whose holder is not made himself known on the day of the sale are sold at public auction by the issuer.
This sale is made subject to prior publication in the Moniteur belge and on the website of a company of market operator market public sales on which the securities will be sold, a notice containing the text of this paragraph and inviting the holder to assert its rights on the title. The sale cannot take place only upon the expiration of a period of one month from the publication of the notice and is initiated within the 3 months following.
The issuer may charge on the product of sale expenses should expose due to the holding and management of securities in a securities account in his name by application of article 9 and due to the conversion of right of securities issued by him.
The issuer may purchase securities offered for sale. With regard to actions, beneficiary shares or certificates relating to it, it complies with the conditions laid down in article 620 of the companies Code, with the exception of the condition referred to in article 620, § 1, paragraph 1, 2 °, of the Code of corporations that may be waived for the purposes of this paragraph. If the conditions of article 620 of the companies Code are not fulfilled, the redemption may be made by the issuer exclusively to immediate destruction of the redeemed securities. In the latter case, the issuer complies with the conditions laid down in article 621 of the Code of corporations.
From money from the sale, after deduction of the charge referred to in paragraph 3, are deposited at the Caisse des Dépôts et Consignations until a person could validly establish its status as holder request the refund. The Caisse des Dépôts et Consignations is responsible for recovery of these sums only so much that it has been received from the transmitter in pursuance of this paragraph. Accrued interest on these amounts back to the Caisse des Dépôts et Consignations filing with it.
The King may establish the terms of the sale, the filing and refunds provided for in this paragraph. ';
2 ° paragraph 3, paragraph 1, is replaced by the following: "§ § 3 3" The person requesting the return of the amounts derived from the sale referred to in §§ 1 and 2 or securities deposited and registered on behalf of the Caisse des Dépôts et Consignations in accordance with § 4 provides to the Caisse des Dépôts et Consignations titles in their paper form. ";
3 ° paragraph 3, subparagraph 2 is replaced by the following: "only written proof is admitted to attest old securities.
Any other means of proof of the quality of holder is left to the discretion of the issuer who assumes sole responsibility for the decision of possible restitution.
The King determines the terms of communication between the transmitter and the Caisse.
The person requesting the refund is liable for a fine calculated by year delay from 1 January 2016.
The amount of the fine is, per year of delay, equal to 10% of the sum or the value of the securities which are the subject of the request for restitution. ";
4 ° paragraph 4, is replaced by the following: "§ § 4 4" Titles that are not sold pursuant to this article on 30 November 2015 shall be deposited by the issuer with the Caisse des Dépôts et Consignations in registered form until a person could validly establish its status as holder request the refund.
The King may set the terms and conditions of this deposit.
The Caisse des Dépôts et Consignations is responsible for the return of these titles only if they have deposited with it by the issuer pursuant to this paragraph in accordance with the procedures laid down.
It is same for the issues are sales referred to in article 11, §§ 1 and 2, or for the repayment of outstanding securities and that pass through an account opened on behalf of the issuer. "."
5 ° article is supplemented by a paragraph 5 worded as follows: "§ § 5 5" The transmitter is confirm

by the Commissioner or, failing this, by an external chartered accountant, an external accountant or a company auditor that the provisions referred to in this section have been met.
This confirmation is sent to the management authority of the transmitter which communicates it, electronically to the Caisse des Dépôts et Consignations. It also the object of special mention in the annexes to the annual accounts of the year 2015.
This paragraph does not apply to the State.
The prescription of the right to repayment of outstanding securities is suspended in the same manner. "."
S. 8. in the same Act, it is inserted an article 12/1, as follows: "article 12/1. § 1.
In January 1, 2026, from sums of the sale referred to in article 11, §§ 1 and 2 on deposit with the Caisse Depots et Consignations and who have not reviewed a request for restitution are attributed to the State.
§ 2. The securities registered with the Caisse des Dépôts et Consignations under article 11, § 4 and who did not the object of an application for repayment of their holder December 31, 2025 may be redeemed by the issuer. With regard to actions, beneficiary shares or certificates relating to it, it complies with the conditions laid down in article 620 of the companies Code, with the exception of the condition referred to in article 620, § 1, paragraph 1, 2 °, of the Code of corporations that may be waived for the purposes of this section. If the conditions of article 620 of the companies Code are not fulfilled, the redemption may be made by the issuer exclusively to immediate destruction of the redeemed securities. In the latter case, the issuer complies with the conditions laid down in article 621 of the Code of corporations.
When the transmitter manifest to the Caisse des Dépôts et Consignations, no later than December 31, 2025 and in writing, its intention to buy the securities, the State invites the issuer to make an offer within a period of 15 days from the date of dispatch of the invitation to a minimum price established by the King.
If the offer of redemption satisfies the conditions of the present article, the State will accept it within a period of 15 days from the date of receipt of the offer. The proceeds from the sale of securities to the issuer is attributed to the State.
Absence of redemption by the issuer, securities are allocated to the State. The suspension of the exercise of the rights attached to the securities provided for in article 10 ends at the time of the transfer of ownership titles to the State or to the issuer.
The transmitter provides transfer to the State of the ownership of securities allocated to the State by an inscription on the behalf of the State in the register of registered securities of the issuer.
§ 3. From the moment where he became owner of the securities, the State may sell them, either on a regulated or non-regulated market or over-the-counter subject to compliance with the statutory or contractual clauses limiting the free transferability of the securities. "."
S. 9. in article 14 of the same Act,-l' paragraph 1 is replaced by the following: "the violation of articles 3, 4, 6 and 11 and the procedures for the deposit of the money derived from the sale of securities and the deposit of securities unsold with Caisse des Dépôts et Consignations laid down by the King in pursuance of article 11 is sanctioned a fine of € 200 to 100,000.".
CHAPTER 4. -Amendments to chapter V of the law of 24 July 2008 various provisions (I), in relation to the dormant coffers.
S. 10. in article 23 of the Act of 24 July 2008 on the various (I) provisions, 4 is replaced by the following: "4 ° dormant chests: chests for which rent has not been paid for at least 5 years and whose lease was terminated by the hotel owner;" sealed envelopes kept by a hotel custodian and who for at least five years did not object of intervention by the applicant, his successors in title or his legal representative, are assimilated to dormant chests; ".
S. 11. article 32 of the Act is replaced by the following: 'article 32 § 1. If, despite the research referred to in article 26, a dormant trunk did not subject to intervention by the tenant before the end of the first year following the moment where the trunk became dormant, the establishment owner opens the trunk in the presence of a bailiff or a notary before the end of the second year following the moment where the trunk became dormant.
If the tenant occurs when even after the end of the first year following the moment where the trunk became dormant, but before its opening, the paragraph 1 is not applicable.
The bailiff or the notary draws up an inventory of the contents of the safe concerned. The inventory also mentions the destination that will be given to him in pursuance of paragraphs 4 and 5.
The bailiff or the notary slides the content of the trunk in an envelope it seals and entrusts it on deposit at the hotel owner.
By way of derogation from paragraph 4, the establishment owner makes every effort to: 1 ° to include species accounts;
2 ° to destroy perishable objects;
3 ° transfer prohibited or dangerous objects to the competent authority.
1 paragraph does not preclude that, pursuant to the provisions of the lease, the facility owner can open a chest without request of the lessee until this chest has become sleeping or that the research referred to in article 26 procedure is completed. In this case, paragraphs 3, 4 and 5 shall apply.
The landlord can charge into account the tenant to open the trunk and inventory.

§ 2. Data determined by the King, for envelopes sealed with the contents of the safe concerned are transferred by the lessor to the front checkout hotel the end of the month following the month where the trunk was opened or, if this opening occurred in application of § 1, paragraph 6, before the end of the thirteenth month following the month where the trunk became dormant.
The physical delivery of the sealed envelope and its inventory to the Fund occurs at least once a year and at the earliest sometime in 2014. Between the time the envelope is sealed and its physical delivery, an establishment owner must keep the sealed envelope in the name and on behalf of the tenant.
Landlord can charge into account the tenant of conservation and the physical delivery of the sealed envelope.
The King sets more precise rules for the transfer of data and the physical delivery of sealed envelopes and their inventories at the checkout and exchanges it data between the hirer and the Caisse. It can also define more precise rules on the conservation of the envelopes sealed by the hotel owner.
The Minister of finance determines when the first hardware delivery of sealed envelopes and their inventories will take place. "."
S. 12. in the same Act, it is inserted an article 32/1 as follows: "article
32/1. Subject to the application of article 43 and except in case of error or fault in the head of the establishment owner, the physical delivery of the envelope sealed to the Fund releases the establishment owner of any obligation with respect to the tenant, the authorities and any third party.
The Fund does not include the rights and obligations of the lessor with the exception of the obligation to refund establishment. "."
S. 13. in the Act, it is inserted a section 32/2 as follows: "Art 32/2. The Fund keeps a register of dormant chests and ensures access to persons with a legitimate interest. The King shall determine the conditions of access to the register. "."
S.
14 A section 41 of the Act, the following amendments are made: 1 ° in the 1st paragraph the words "and the sealed envelopes delivered to the Caisse" are inserted between the words "assets deposited in the Fund" and the words "owned";
2 ° a paragraph worded as follows is inserted between paragraphs 4 and 5: "the sealed envelopes delivered to the Fund are acquired to the State when it has been a period of thirty years which begins from the date boxes whose content lies in these envelopes have become dormant within the meaning of article 23 , 4°. ";
3 ° paragraph 5 becomes paragraph 6;
4 ° it is supplemented by a paragraph worded as follows: "the Fund retains the sealed envelopes were delivered to him and can charge into account of third parties to the tenant. The King defines the rules for the allocation of these costs. "."
S. 15. in the same Act, it is inserted an article 41/1 as follows: "article
41/1. A federal public service or an institution designated by royal decree deliberated in the Council of Ministers, opened the sealed envelopes that have become the property of the State on the basis of article 41, paragraph 5. The King may determine the terms of provision of sealed envelopes to the service or this institution, the destination of the contents of the sealed envelopes and the payment to the Fund of the proceeds from the eventual sale. "."
S. 16. in article 42 of the Act, the words "and the proceeds of the sale referred to in article 41/1" shall be inserted between the words "and article 38, paragraph 6,"and the words "the ageing Fund". "" "
S. 17. in article 43 of the same Act, "of article 32, paragraphs 1 and 2" shall be replaced by the words "article 32, § 2, paragraph 1".
S. 18. article 50 of the Act is replaced by the following: 'article 50. for the chests that are dormant within the meaning of article 23, 4 °, at the time of the entry into force of this section and who, despite the search referred to procedure

article 26 were the subject of an intervention on the part of the lessee, the lessor institution must at the latest within a period of two years after the entry into force of this section: 1 ° there is no inventory of the contents of the dormant trunk by a bailiff or a notary public, open chests or sealed envelopes in the presence of a bailiff of justice or notary , which lists such inventory in accordance with article 32, § 1, paragraphs 3 to 5 and 7;
2 ° if there is an inventory of the contents of the dormant trunk by a bailiff or a notary public and referring to objects referred to in article 32, § 1, paragraph 5, open the sealed envelopes, a new inventory and implement article 32, § 1, paragraph 5;
3 ° to comply with the obligations imposed on him by section 32, § 2, paragraph 1.
By way of derogation from article 41, paragraph 5, are acquired to the State at the earliest thirty years after the entry into force of this section sealed envelopes delivered to the Caisse in which is located the contents of safes that are dormant within the meaning of article 23, 4 °, at the time of the entry into force of this section. "."
Promulgate this Act, order that it self under the seal of the State and published by le Moniteur.
Given at Brussels, December 21, 2013.
PHILIPPE by the King: the Minister of finance, K. GARG the Minister of Middle Classes, SMEs, the self-employed and Agriculture, Ms. S. LARUELLE. the Minister of Justice, Ms. A. TURTELBOOM sealed with the seal of the State: the Minister of Justice, Ms. A. TURTELBOOM _ Note (1) Session 2013-2014.
House of representatives.
Parliamentary papers. -Bill, no. 53 - 3219/001. -Amendments, no. 53-3219/002. -Text adopted by the commission, no. 53-3219/005.
-Text adopted in plenary meeting and transmitted to the Senate, no. 53-3219/006.
Full record: 12 December 2013.
Senate.
Parliamentary papers. -Draft transmitted by the Chamber, no. 5-2404/1. -Text adopted by the commission: unamended. -Text adopted in plenary meeting and submitted to the Royal assent: unamended.
Annals: 18 December 2013.